Reuters poll on RBA expectations.

  • Reserve Bank of Australia expected to hike its cash rate target by 505ps at its next meeting, August 2 (statement due at 0430 GMT)
  • expected to hike again by 50bps in September
  • expected to take the rate to 2.85% by the end of 2022 & 3.1% by end of 2023
Forecasts for the RBA include an end to bond-buying in February, rate hike 2022

The RBA has been on a rate hike cycle and that'll continue. The Bank lifted off gently in May with a +25bp then followed up with in June and July with +50 each time:

rba cash rate 29 July 2022

The inflation rate has risen rapidly but the Bank have forecast it to decline back into the target band next year. RBA forecasts have not been reliable though.